Thanks for the link. Good info. I found this scary
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Surplus of speculators. Nationally, 25% of houses bought in 2005 were pure speculation, not houses to live in. It is now possible to buy a house with 103% financing. The extra 3% is to cover closing costs, so the buyer needs no money down. All this is on the unwise assumption that housing will rise ever higher, covering interest payments through appreciation.
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The last part in an upwards rally is usually pure leveraged speculation by momentum players. That's the time to get out... but then again, we're all greedy, always hard to be the first to leave a party that's in full swing.
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Originally Posted by CraK
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